Finastra has introduced an AI-powered assistant, Assist.AI, designed to enhance trade finance operations. This new tool leverages Microsoft’s technology to improve efficiency and support bank employees.
Built on the Microsoft Azure OpenAI Service and using Microsoft Copilot technology, Assist.AI offers tailored support and training to new staff by providing contextually relevant answers to specific questions. This system seeks to reduce the time spent on routine inquiries, and free up staff to focus on strategic initiatives.
“We are pleased to work with Finastra to make trade finance simpler and more efficient for banks worldwide,” stated Bill Borden, corporate vice president of worldwide financial services at Microsoft. “This solution exemplifies the power of AI in boosting operational efficiency and user experience by using the robust capabilities of Azure. This collaboration underscores our shared vision for the future of financial technology, as well as strengthening Microsoft and Finastra’s long-standing relationship.”
Assist.AI also evolves with user interactions, adapting to ensure its responses remain relevant and continuously improve. Andrew Bateman, executive vice president of lending at Finastra, said, “This timely and much needed solution represents a significant leap forward in our commitment to advancing open finance and leveraging AI technology to solve real-world challenges in financial services. By providing instant assistance to bank employees, we are empowering our clients to navigate the complexities of trade finance with greater ease and efficiency.”
